Facebook CEO Contemplates Another Step Towards Blockchain

The CEO and founder of social media giant Facebook, Mark Zuckerberg, says he is “potentially interested” in using Blockchain technology as an authentication tool on the social network he created.

Zuckerberg made the comments amid an open discussion with Harvard Law teacher Jonathan Zittrain on Wednesday, where he likewise talked about how Blockchain could give intensity of information imparting to outsider applications back to clients.

Authentication of third-party apps is “a use of blockchain that I’m potentially interested in,” Zuckerberg said, adding that this could replace Facebook Connect with “something that’s fully distributed.” However, Zuckerberg also admitted that “I haven’t found a way for this to work [yet].”

In spite of the fact that Zuckerberg promptly conceded that transforming the whole Facebook into a decentralized informal organization would not be doable, certain parts of the individual information contained in the system could be put on a blockchain, he said.

“Basically, you take your information, you store it on some decentralized system and you have the choice to log into places without going through an intermediary,” Zuckerberg explained as one of the ideas he was exploring.

Early a year ago, Cryptonews.com detailed that Facebook was getting progressively genuine in its blockchain inquire about endeavors, setting up another unit inside the organization committed to investigating how blockchain innovation could be utilized by the organization.

In addition to that, it was accounted for back in December that Facebook might take a shot at its own stablecoin to be utilized to exchange cash through the Facebook-possessed informing application WhatsApp.